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Estimate of the time that Humanity will go extinct or civilization will collapse. The HUMANITY DOOMSDAY CLOCK moves forward to 2125 due to US President trump's abandonment of climate change goals. Apologies to Bulletin of the Atomic Scientists for using the name.

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Tuesday, November 20, 2012

Idiot Bankers - Do NOT Rescue Them


Barry, My Liege :

Well, well, well.

Looks like our esteemed bankers have just lost the paper ownership records of EVERYTHING in the flood.

And, My Liege, they don't even know what is missing. We can be pretty sure it will be many billions of dollars.

There is one thing certain : They will ask taxpayers to make them whole.

We should NOT do that.

They are big boys. That's one reason they have capital - to cushion us from their mistakes.

Here is a cut and paste URL to the story :

http://dealbreaker.com/2012/11/hurricane-sandy-destroys-trillions-of-dollars-of-securities-but-thats-no-big-deal/


Perhaps it is time for bankers to grow up.

Your faithful servant,

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